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Business deals

Daikin eyes A/C crown in U.S. with smart-thermostat deal

$100m purchase of Venstar to add energy-saving services for customers

Daikin's FIT smart air conditioning systems contains inverters designed to conserve power consumption.

OSAKA -- Japanese air conditioner manufacturer Daikin Industries has bought U.S. smart-thermostat maker Venstar for around 13 billion yen ($101 million) in a bid to capture the top share in the American market by 2025.

Venstar provides residential smart thermostats and cloud-based monitoring. Daikin looks to use Venstar's services as a springboard to expand its distribution footprint in the U.S.

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